Ned Davis Research Upgrades Starbucks Corp. to Buy (SBUX)
Starbucks Corp. (NASDAQ:SBUX) was upgraded by investment analysts at Ned Davis Research from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, Analyst Ratings.Net reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Piper Jaffray Cos. raised their price target on shares of Starbucks Corp. from $75.00 to $85.00 in a research note to investors on Tuesday, October 8th. They now have an “overweight” rating on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “buy” rating on shares of Starbucks Corp. in a research note to investors on Monday, October 7th. They now have a $80.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Starbucks Corp. from $80.00 to $85.00 in a research note to investors on Monday, October 7th. They now have a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $75.43.
Starbucks Corp. (NASDAQ:SBUX) traded up 0.13% during mid-day trading on Monday, hitting $79.415. 2,744,082 shares of the company’s stock traded hands. Starbucks Corp. has a 52 week low of $44.27 and a 52 week high of $79.67. The stock’s 50-day moving average is $75.83 and its 200-day moving average is $68.09. The company has a market cap of $59.672 billion and a P/E ratio of 37.97.
Starbucks Corp. (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis.
Starbucks Corporation is a roaster, marketer and retailer of coffee operating in 60 countries. The Company purchases and roasts coffees that it sells, along with handcrafted coffee, tea and other beverages and a variety of fresh food items, through Company-operated stores.
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